Independence Realty Trust, Inc. IRT
Independence Realty Trust (IRT), publicly traded as NYSE: IRT, operates as a real estate investment trust specializing in owning and managing multifamily apartment communities. Their portfolio is concentrated in non-gateway U.S. markets such as Atlanta, Louisville, Memphis, and Raleigh. The company's strategy involves establishing a strong presence in select, amenity-rich submarkets, which are identified by features like excellent school systems, quality retail establishments, and significant employment hubs. Ultimately, IRT seeks to deliver appealing risk-adjusted returns to its shareholders. This is accomplished through meticulous portfolio oversight, robust operational execution, and a reliable return on capital, generated via both dividend distributions and asset value appreciation.
Business overview written from the company's own Form 10-K (Item 1), filed 2026-02-17 — refreshed whenever it files a new one. The figures above are current; see its SEC filings. ✓ From the 10-K
Plain-English: the Snapshot is the quick read — what it pays you (yield, dividend), how its cash flow looks (FFO/AFFO, Price/OCF) and how much debt it carries. Switch to Expert in the header to hide these explanations.
Snapshot
Reported FFO / Core FFO / leverage are from the Q1 2026 earnings release (filed 2026-04-29) — 8-K, EX-99.1 ✓ Verified to filing.
Yield uses the latest declared dividend, annualized (latest regular payout × frequency; special/liquidating distributions excluded) — an announced-but-not-yet-declared change isn't reflected until it has an ex-date. FFO, AFFO and Net debt / Adj. EBITDA are the company's reported figures from its latest earnings 8-K. Price/OCF and payout use GAAP operating cash flow. NAV premium and credit ratings have no free source yet. See Methodology.
$10,000 invested
Illustrative income only, at today's price and latest declared dividend — it excludes price changes, dividend cuts and taxes. Not a forecast.
Model IRT yourself — any amount, shares, per-payment & a multi-year DRIP projection →
Balance sheet (latest FY: 2025)
Debt-maturity ladder, fixed/floating split, secured/unsecured and coverage ratios come from the supplemental — not yet ingested.
Financial history
| FY | Revenue | Net income | D&A | EBITDA | Op. cash flow |
|---|---|---|---|---|---|
| 2025 | $657.70M | $56.56M | $243.24M | $379.95M | $282.15M |
| 2024 | $640.03M | $39.29M | $220.85M | $337.03M | $259.75M |
| 2023 | $660.98M | $-17.23M | $218.97M | $291.08M | $262.17M |
| 2022 | $628.52M | $117.25M | $252.85M | $460.46M | $249.54M |
| 2021 | $250.25M | $44.59M | $76.91M | $158.84M | $52.26M |
| 2020 | $211.91M | $14.77M | $60.69M | $112.05M | $74.96M |
Dividends
Recent regular dividends per share (special distributions excluded), oldest → newest.
| Ex-date | Record | Payment | Declared | Amount | Freq. |
|---|---|---|---|---|---|
| 2026-06-26 | 2026-06-26 | 2026-07-17 | 2026-05-13 | $0.18 | Quarterly |
| 2026-03-27 | 2026-03-27 | 2026-04-17 | 2026-03-09 | $0.17 | Quarterly |
| 2025-12-31 | 2025-12-31 | 2026-01-23 | 2025-12-15 | $0.17 | Quarterly |
| 2025-09-30 | 2025-09-30 | 2025-10-24 | 2025-09-08 | $0.17 | Quarterly |
| 2025-06-27 | 2025-06-27 | 2025-07-18 | 2025-05-14 | $0.17 | Quarterly |
| 2025-03-28 | 2025-03-28 | 2025-04-21 | 2025-03-10 | $0.16 | Quarterly |
| 2024-12-31 | 2024-12-31 | 2025-01-17 | 2024-12-16 | $0.16 | Quarterly |
| 2024-09-30 | 2024-09-30 | 2024-10-18 | 2024-09-17 | $0.16 | Quarterly |
| 2024-06-28 | 2024-06-28 | 2024-07-19 | 2024-06-10 | $0.16 | Quarterly |
| 2024-03-27 | 2024-03-29 | 2024-04-19 | 2024-03-11 | $0.16 | Quarterly |
| 2023-12-28 | 2023-12-29 | 2024-01-19 | 2023-12-11 | $0.16 | Quarterly |
| 2023-09-28 | 2023-09-29 | 2023-10-20 | 2023-09-12 | $0.16 | Quarterly |
| 2023-06-29 | 2023-06-30 | 2023-07-21 | 2023-05-10 | $0.16 | Quarterly |
| 2023-03-30 | 2023-03-31 | 2023-04-21 | 2023-03-13 | $0.14 | Quarterly |
| 2022-12-29 | 2022-12-30 | 2023-01-20 | 2022-12-12 | $0.14 | Quarterly |
| 2022-09-29 | 2022-09-30 | 2022-10-21 | 2022-09-12 | $0.14 | Quarterly |
| 2022-06-30 | 2022-07-01 | 2022-07-22 | 2022-05-18 | $0.14 | Quarterly |
| 2022-03-31 | 2022-04-01 | 2022-04-22 | 2022-03-14 | $0.12 | Quarterly |
| 2021-12-29 | 2021-12-30 | 2022-01-21 | 2021-12-02 | $0.02 | Quarterly |
| 2021-12-16 | 2021-12-17 | 2022-01-18 | 2021-12-02 | $0.10 | Quarterly |
| 2021-09-30 | 2021-10-01 | 2021-10-22 | 2021-09-13 | $0.12 | Quarterly |
| 2021-07-01 | 2021-07-02 | 2021-07-23 | 2021-06-14 | $0.12 | Quarterly |
| 2021-03-31 | 2021-04-02 | 2021-04-23 | 2021-03-15 | $0.12 | Quarterly |
| 2020-12-29 | 2020-12-30 | 2021-01-22 | 2020-12-14 | $0.12 | Quarterly |
Coverage (payout of operating cash flow): 59.90%. Tax-character split (ordinary / 199A / capital gain / return of capital) — not disclosed (requires the annual allocation release).
Recent news — IRT
IRT Announces Dates for Second Quarter 2026 Earnings Release and Conference Call
HPE and Rowan University Expand Partnership to Accelerate Research and Strengthen Student Workforce Readiness
Independence Realty Trust Increases Quarterly Dividend by 6%
Independence Realty Trust: Patience Is Key
Independence Realty Trust, Inc. (IRT) Q1 2026 Earnings Call Transcript
Independence Realty Trust (IRT) Lags Q1 FFO and Revenue Estimates
Independence Realty Trust Announces First Quarter 2026 Financial Results
SAFE vs. IRT: Which Stock Should Value Investors Buy Now?
Headlines via Financial Modeling Prep; links open the original publisher in a new tab. Not an endorsement or investment advice.
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Same-store NOI, occupancy, leasing/WALT, top tenants, external-manager fees, development pipeline and (for non-traded vehicles) share-class fees, redemption/gating and NAV methodology are planned modules sourced from supplementals and prospectuses.